The life expectancy in South Korea is growing, but the country appears to be ill-prepared for life after retirement.
According to the Organization for Economic Cooperation and Development (OECD) on Monday, the life expectancy for South Koreans stood at 81.3 years as of 2012, ranking 13th out of the 32 OECD member countries.
While South Koreans’ life expectancy rose sharply from 79.1 years in 2006, the ratio of South Korea’s gross domestic product to pension fund investment stood at a mere 4 percent in 2010, placing the nation in the lower ranks of the OECD.
As they lack preparations for their years later in life, many South Koreans continue to work after their retirement.
The survey found the effective retirement age for South Koreans was 71.1 years for men and 69.8 years for women, making them the second longest working seniors in the OECD.
Japan had the longest life expectancy at 83.2 years.
Mexico ranked first in life expectancy for men at 72.3 years.
Source: Busan eFM News
The Latest Haps
Global tech giant Microsoft Corp. will build a large data center in Gangseo-gu, Busan.
Increasing accidents from people throwing objects out of their apartment windows is the latest worry among local residents.
A 32-year-old Busan man has been sentenced to six months jail time after getting caught paying for sex with an underage girl he met on a smartphone application.
The expat DJ contest is back for another year of great music and fun on Gwangalli Beach.
The 5th Arab Film Festival gets underway at the Busan Cinema Center from May 26th through June 1st.
A project to build Busan’s first-ever dog park in Haeundae-gu might be cancelled due to budget allocation issues.
Gyeonggi English Village in Paju has closed its doors after a decade of operating the nation’s first English Village.
The average price of Korean beef has always been much, much higher than import beef — but have you ever wondered why?
Slice of Life Pizza, one of the city’s most popular pizzeria’s, will celebrate their grand opening of their new taphouse in Gwangalli with a big event today.
Oryukdo Skywalk in Busan will be open for ten hours a day from June to September.
The water quality of beaches in Busan that will open in June is in good condition according to a recent report.
The 8th annual Busan Citizen’s Bicycle Festival will kick off at the Suyeong Yachting Center at 8 am on June 5th.
The number of bicycle-related accidents in the city is increasing, possibly due to the shared sidewalks between bicycles and pedestrians.